Vice-Chairman of the Board of Auditors Local governments and national enterprises that are most debilitating because of the asymmetries supported by government credit, are more vulnerable to shocks; the “one size fits all” is leveraged in some places. In recent years, China’s economy is undergoing a process of rapid growth to moderate growth, which can be described as medium- and high-speed growth during the transition period, followed by moderate growth. In this process, the first is the eme...